An Amortization Schedule Shows the ____ of a Loan,and the Amount

question 44

Multiple Choice

An amortization schedule shows the ____ of a loan,and the amount of payment that applies to the principal and interest for each year over the life of the loan.

• A)daily income
• B)beginning balance
• C)ending balance
• D)daily cost

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Definitions:

Earnings Per Share

A company's profit divided by the outstanding shares of its common stock, indicating the company's profitability on a per-share basis.

Income Statement

A financial statement that shows a company’s revenues and expenses over a specific period, leading to the net income or loss for the period.

Treasury Stock

An alternative term for treasury shares, referring to stocks that a company has repurchased and holds, reducing the amount of outstanding stock on the market.

Closing Entries

Made at the end of the accounting period to transfer balances in temporary (income statement) accounts to Retained Earnings and to establish a zero balance in each of the temporary accounts for beginning the next accounting period.